When searching for homes on property portals, it is not uncommon for the letters: POA to appear instead of the listing price. Short for Price on Application, the term exists as a way to conceal the asking price from the general public and can be used for a variety of reasons.
According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, an agent might request that the price appear as POA as a way to ensure that only serious buyers contact them. A seller might also request that the asking price not appear because they would prefer for this to remain private and would not want their neighbours, friends or family to know how much their home is worth.
When interested in a property that is listed as POA, Goslett explains that the interested buyer will need to contact the agent to find out more about the home before the listing price will be revealed to the interested party. This can be a tedious process that has the potential to deter buyers.
“When choosing to list a home as POA, sellers must keep in mind that many buyers will simply scroll past a listing that does not list its asking price. This may have an impact on how quickly the property is able to sell,” Goslett cautions.
As a final piece of advice, Goslett recommends consulting a local real estate expert if unsure about whether to list the asking price. The real estate expert can then inform the clients of the various pros and cons of this option so that they can make an informed decision.